Sawgrass says staff departures won't affect Jacksonville Beach accounts

Greg Gosh, Client Services Director for Sawgrass Asset Management, told the Jacksonville Beach Pension Board that several staff members in sales and research recently left Sawgrass for another firm expanding to Ponte Vedra Beach, but he said none of those departures involved staff who handled the city's portfolio operations.

'Chris Greco partnered with the firm and our top salesperson left to become president and CEO of another investment firm,' Gosh said, adding that two other colleagues (Anthony Brooks and Chris Herb) left as well. He said one departed staffer may have produced occasional reports that reached the city's vendor contact but that Sawgrass' core investment team and the client-services function covering Jacksonville Beach remained in place.

Gosh said Sawgrass continues to manage substantial assets and has local ties: 'The firm is still on solid ground. We're still at $3,280,000,000 in assets under management,' he said, and noted Sawgrass has operations in the Jacksonville Beach taxing authority.

Board members asked no follow-up operational questions during the briefing. No change to the board's relationship with Sawgrass or its oversight of that manager was recorded at the briefing.

The board will continue regular oversight of managers and receive performance reports at the next full meeting.